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Aurivo has cut its March base price by 1.5c/l, giving a price of 29.87c/l excluding VAT, but including a 1.48c/l unconditional early calving bonus.
A spokesperson for Aurivo said the average pay-out would be 34.25c/l.
"Both powder and butter global markets are weak, with demand negative as a result of COVID-19. Aurivo are doing everything possible to reduce the impact on the business & pay the maximum milk price that markets can return," the spokesperson said.
March prices
Aurivo's announcement follows Carbey and Dairygold, which last week both cut base milk prices.
Carbey offset the cut by an increase of 1.5c/l from the Carbery stability fund, meaning the Carbery March milk price remains unchanged at 30.74c/l, excluding VAT.
This brings the total stability fund payment to 2c/l, which will result in a VAT-inclusive price of 32.4c/l when replicated across the four co-ops – Bandon, Barryroe, Lisavaird and Drinagh – a spokesperson for Carbery said.
Dairygold cut its base milk price for March by 2c/l to 28.1c/l, excluding VAT.
Dairygold said that this equated to a farmgate milk price of 33.8c/l based on average March milk solids and the March early calving bonus.
The processor said that COVID-19 had fundamentally distorted the global demand for dairy products.
Earlier last week the three big players cut March milk prices by between 1.8c/l and 2c/l each.
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